ConsenSys Acquires Truffle Suite; The ‘Most Widely Used’ Development Toolkit On Ethereum
Ethereum’s leading development and investment firm, ConsenSys, has acquired Truffle Suite’s dev team and technology. Truffle Suite is a platform hosting Ethereum development tools, a development environment, testing framework, and asset pipeline, allowing developers to build dApps on the second-largest blockchain network easily.
The acquisition follows a one-and-half year-long layoff in any partnership between the two companies. As one of the first companies to be incubated by ConsenSys since 2015 as a developer tool kit, Truffle spans out of the firm in 2019 and has since raised over $3 million in equity funding. The terms of the contract of their reunion were not disclosed in the report. ConsenSys Founder, Joe Lubin said,
“The Truffle Suite is essential for developers to get started on Ethereum and Web3, and is invaluable for increasing adoption of Mainnet applications and enterprise blockchain solutions alike.”
Truffle is currently used by over 1.3 million developers worldwide, enhancing Solidity development into an elegant, productive, and safe product for users. According to the report, the acquisition “concludes ConsenSys strategic restructuring of the company”. The report further stated the restructuring would “form two separate entities and delineate our core technology business from our investment activities, which we started in February 2020″.
“Truffle will now be a wholly-owned product of ConsenSys the software company, which includes Codefi, Diligence, MetaMask, Infura, and Quorum.”
Tim Coulter, Founder of Truffle, labeled Truffle Suite’s acquisition by ConsenSys “a natural fit” for the products stack. He further said,
“We look forward to delivering enterprise-grade solutions that enable developers to build and deploy blockchain systems using Ethereum and across multiple blockchains.”